Corporate travel budgets in 2009 will be down by an average of 3 percent year over year

, according to a Morgan Stanley November poll of 350 travel managers. "Business travel demand will weaken, but expectations that the revenue environment will resemble the demand shock of 9/11 appear overblown," the firm wrote in a report issued last week. "Corporate travel managers responding to our survey seem to suggest that '09 domestic volume trends will be far less severe than our forecasts assume."